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Rabobank says COVID-19 is complicating China's African swine fever situation, with chicken hit hardest by closures of wet markets and restaurants. It still expects overall animal feed consumption to rise 2.6% in 2020, though more slowly than previously forecast.
China's soymeal use is expected to fall in the first half of 2020 before recovering.
Slower broiler and layer feed growth and a weaker first-half soymeal use outlook point to softer near-term demand for soybean meal from China.
feedstrategy.comAnn ReusMar 4, 2020After 167 past bearish disease events, Soybean Meal moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% over 20.
Not enough comparable past events yet for a historical read.
After 175 past bearish disease events, Corn moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.5%), and +0.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
